MU’s 5.6% Drop Reinforces a Fading Trend

I view today’s −5.61% move to $765.83 as an overreaction to the earnings picture, but not a reason to ignore the deteriorating price trend. Q3 revenue grew 379.3% year over year and net margin reached 69.5%; consensus still expects FY 2027 EPS of $176.502, up 133.7%, and the shares trade at 4.3x that estimate. Yet momentum has weakened materially: MU is down 16.2% over one month and 21.2% over three months, and sits 36.9% below its 52-week high, despite a 217.6% 12-month gain. The strong estimates temper my fundamental concern, but the sharp daily fall confirms trend deterioration. It does not change my view; it reinforces an exit. I sell my one share.